The Facebook smartphone is expected to run on the Android platform and integrate all of the social networking giant's functions.
] first worked with Google
] in launching the Nexus One before Google moved on to work with Samsung as its production partner.
Rumors of a Facebook smartphone surfaced in 2010, but CEO Mark Zuckerberg shot down the rumors, claiming that Facebook was not trying to compete with Apple
], Droid or other hardware manufacturers.
The news of a Facebook smartphone comes just weeks before Facebook's expected initial public offering. Valuation of the company is expected to be north of $100 billion.
Facebook could not be immediately reached for comment.